Comments on: UBS: $10 Billion in Writedowns, Selling Stake to Foreign Investors http://www.nakedcapitalism.com/2007/12/ubs-10-billion-in-writedowns-selling.html Sun, 22 Nov 2009 04:39:16 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: docs http://www.nakedcapitalism.com/2007/12/ubs-10-billion-in-writedowns-selling.html#comment-2318 docs Tue, 11 Dec 2007 04:33:00 +0000 http://www.nakedcapitalism.com/2007/12/ubs-10-billion-in-writedowns-selling-stake-to-foreign-investors/#comment-2318 UBS also declined to comment on a separate media report that the bank was holding a board meeting on Sunday ahead of an investor day in London on Tuesday.<br/>The Swiss bank reported big write-downs on subprime-related exposures and a pretax loss of 726 million francs in the third quarter. UBS also declined to comment on a separate media report that the bank was holding a board meeting on Sunday ahead of an investor day in London on Tuesday.
The Swiss bank reported big write-downs on subprime-related exposures and a pretax loss of 726 million francs in the third quarter.

]]> By: doc holiday http://www.nakedcapitalism.com/2007/12/ubs-10-billion-in-writedowns-selling.html#comment-2315 doc holiday Tue, 11 Dec 2007 00:37:00 +0000 http://www.nakedcapitalism.com/2007/12/ubs-10-billion-in-writedowns-selling-stake-to-foreign-investors/#comment-2315 Re: UBS AG will write down U.S. subprime mortgage investments by $10 billion, the biggest such loss by any European bank, and replenish capital by selling stakes to investors in Singapore and the Middle East...<br/><br/>Re: America is now for sale and will be controlled by outside forces, as a result of treason!<br/><br/>Sovereign wealth funds will have unprecidented access to Americas future, do you care???<br/><br/>Re: <br/>And right now Persian Gulf countries are putting their cash to work through newly minted sovereign wealth funds (SWFs), which operate much like state owned hedge funds or private equity groups. <br/><br/>In the past six months alone, Middle Eastern SWFs have doled out serious cash for stakes in major international corporations. Just take a look:<br/><br/>Nov. 27: Abu Dhabi pours $7.5 billion into ailing Citigroup Inc. (C), which recently lost its status as largest bank by market capitalization to Bank of America Corp. (BAC). <br/>Nov. 26: Dubai International Capital, a state-owned holding company, acquired an undisclosed stake in Japan’s electronics and media juggernaut Sony Corp. (SNE). <br/>Nov. 16: Abu Dhabi invested $622 million (an 8.1% stake) in California-based microchip-maker Advanced Micro Devices Inc. (AMD). <br/>Oct. 20: Dubai International Capital agreed to invest $1.26 billion in the initial public offering of hedge fund Och-Ziff Capital Management Group LLC (OZM). <br/>Aug. 22: Dubai World, another investment arm of the state, plunked down $5.1 billion for a 9.5% stake in MGM Mirage (MGM). <br/>Aug. 14: Istithmar, part of Dubai World, was cleared to buy Barneys New York Inc. for $942.3 million from Jones Apparel Group Inc. (JNY). <br/>May 21: General Electric (GE) sold its plastics division to Saudi Basic Industries Corp. - the country’s largest public company, though 70% owned by the government - for $11.6 billion. <br/><br/>>>Sell us down the rat hole for bad bets and thanks for using pension funds! Re: UBS AG will write down U.S. subprime mortgage investments by $10 billion, the biggest such loss by any European bank, and replenish capital by selling stakes to investors in Singapore and the Middle East…

Re: America is now for sale and will be controlled by outside forces, as a result of treason!

Sovereign wealth funds will have unprecidented access to Americas future, do you care???

Re:
And right now Persian Gulf countries are putting their cash to work through newly minted sovereign wealth funds (SWFs), which operate much like state owned hedge funds or private equity groups.

In the past six months alone, Middle Eastern SWFs have doled out serious cash for stakes in major international corporations. Just take a look:

Nov. 27: Abu Dhabi pours $7.5 billion into ailing Citigroup Inc. (C), which recently lost its status as largest bank by market capitalization to Bank of America Corp. (BAC).
Nov. 26: Dubai International Capital, a state-owned holding company, acquired an undisclosed stake in Japan’s electronics and media juggernaut Sony Corp. (SNE).
Nov. 16: Abu Dhabi invested $622 million (an 8.1% stake) in California-based microchip-maker Advanced Micro Devices Inc. (AMD).
Oct. 20: Dubai International Capital agreed to invest $1.26 billion in the initial public offering of hedge fund Och-Ziff Capital Management Group LLC (OZM).
Aug. 22: Dubai World, another investment arm of the state, plunked down $5.1 billion for a 9.5% stake in MGM Mirage (MGM).
Aug. 14: Istithmar, part of Dubai World, was cleared to buy Barneys New York Inc. for $942.3 million from Jones Apparel Group Inc. (JNY).
May 21: General Electric (GE) sold its plastics division to Saudi Basic Industries Corp. – the country’s largest public company, though 70% owned by the government – for $11.6 billion.

>>Sell us down the rat hole for bad bets and thanks for using pension funds!

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